Trade Deficits and National Saving
The U.S. trade balance has been in deficit, on average, for the last 25 years. This is reflected in the behavior of U.S. gross saving and investment. During the 1960s, gross saving surpassed gross private investment, and the excess saving was invested abroad.
Suggested citation: “Trade Deficits and National Saving,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-12, pp. 15, 12.01.1996.